Bidders trying to buy Manchester United have been given m🤪ore time t🐠o submit second offers for the iconic football team.
The dea🦹dline for the latest round of bids had been set for 9 p.m. Wednesday, but American merchant bank Raine has agreed to an unspecified extension to allow interested parties to fine-tune their pr𒆙oposals.
A person with knowledge of the process confirmed 🅷the extension. The person spoke on the condition of anonymity because they were not authorized to comment publicly.
Sheikh Jassim bin Hamad Al Thani has outlined his intention to make a second offer for U🅰nited and British billionaire Jim Ratcliffe is also expected to bid. Both submitted indicative offers last month.
Sheikh Jassim, the chairman of Qatar Islamic Bank, has said he wants to return the club to the summit of the sport if he is successful in buying out current owne𝄹rs, the Gla🍃zer family.
His latest bid will be made to Raine, another person with knowledge of the process said. The pe𝓰rson also spoke on condition of anonymity because they were not authorized to comment publicly.
United is expected to become the most expensive sports team in history, with the price estimated to reach up to $6 bi♒llion.
Sheikh Jassim and꧙ Ratcliffe are the only contenders to have publicly declared their intention to buy the 20-time English leagꦉue champions.
Sheikh Jassim, the son of a former Qatari prime min📖ister, sent a delegation to Man🔜chester last week to meet with United executives.
Ratcliffe, owner of petrochemicals giant INEOS, ꧒also held meetings with United last week.
Sheikh Jassim is said to be confident in his bid to buy 100% of the club and p⛎lans to invest in the stadium, training grﷺound and playing squads.
Ratcliffe has spoken of his intention to take a “fan centered” approach to ownership, adding that he is focused on United winning the Champions League for the first 🦄time since 2008.
He is bidding for a majority ownership.
Last year, Raine handled the sale of Chelsꦛea to Todd Boehly and Clearlake Capital for about $3 billion. The Denver Broncos were also sold last year to Walmart heir Rob Walton and his daughter and son-in-law 💮for a record $4.65 billion.
The Glazers announced in November that they were exploring “strategic alternatives.” It is not ce🌞rtain t🐬hey will cede total control of the club they have owned since 2005, with minority investment also a possibility.
